A consumer group representing people who currently have product liability claims against GM and Chrysler looks like it won't be getting much, if any, restitution. When GM went into bankruptcy, it still planned to deny any liability claims -- ones that came up today, for instance -- when the new GM was formed. In a reversal meant to quell resistance from that consumer groups and state officials, New GM has agreed to assume liability for future claims on products made by Old GM.
As Yogi Berra once said, "This is like deja-vu all over again." Yesterday was the deadline for parties to file objections to the General Motors asset sale, and several were indeed filed. If some of this sounds familiar, it's because similar objections were filed during Chrysler's bankruptcy proceedings. For instance, on Friday, attorneys general from 10 states jointly-filed an objection, saying that the so-called New GM's "purchase of substantially all of the operating assets of the debtors shou